citigroup-raises-regional-property-fund

Citigroup raises regional property fund

Citigroup Property Investors raises $1.29 billion for a regional real estate fund.
Citigroup Property Investors CPI announced Wednesday that it has raised $1.29 billion for its first fund to invest in real estate and related assets in the Asia-Pacific region, with a focus on China and India.

CPI, a unit of Citigroup, says that the investment team is committing $200 million of capital to the CPI Capital Partners Asia Pacific, L.P. fund. The fund will be managed by a Hong Kong-based team of more than 25 employees under the leadership of managing director David Schaefer. Citi says that 40% of the fund has already been invested or pledged.

We are very pleased with the closing of CPI Capital Partners Asia Pacific. We received strong investor interest...
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